Meridiem Capital Partners LP Purchases Shares of 63,459 Roblox Corporation $RBLX

Meridiem Capital Partners LP acquired a new position in shares of Roblox Corporation (NYSE:RBLX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 63,459 shares of the company’s stock, valued at approximately $8,790,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBLX. Norges Bank bought a new position in Roblox during the 2nd quarter worth approximately $350,720,000. Vanguard Group Inc. boosted its stake in shares of Roblox by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock valued at $8,648,911,000 after purchasing an additional 3,284,073 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Roblox by 103.0% in the 2nd quarter. Federated Hermes Inc. now owns 3,245,338 shares of the company’s stock valued at $341,410,000 after purchasing an additional 1,646,871 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Roblox by 47.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,788,195 shares of the company’s stock worth $503,718,000 after buying an additional 1,531,380 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in Roblox by 359.8% during the second quarter. 1832 Asset Management L.P. now owns 1,818,394 shares of the company’s stock worth $191,295,000 after buying an additional 1,422,894 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wall Street Zen downgraded Roblox from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. UBS Group set a $74.00 price objective on Roblox in a research note on Friday, February 6th. BMO Capital Markets restated an “outperform” rating on shares of Roblox in a research report on Friday, February 6th. Needham & Company LLC dropped their target price on shares of Roblox from $159.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Finally, DA Davidson began coverage on shares of Roblox in a research note on Wednesday, March 4th. They set a “neutral” rating and a $65.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Roblox has a consensus rating of “Moderate Buy” and a consensus price target of $117.35.

Insider Activity at Roblox

In related news, Director Anthony P. Lee sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $82.45, for a total value of $577,150.00. Following the transaction, the director owned 256,768 shares of the company’s stock, valued at approximately $21,170,521.60. This trade represents a 2.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Reinstra sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $63.94, for a total value of $3,836,400.00. Following the sale, the insider directly owned 394,322 shares of the company’s stock, valued at $25,212,948.68. This represents a 13.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 703,144 shares of company stock valued at $51,681,640 over the last quarter. 12.92% of the stock is currently owned by company insiders.

Roblox Stock Up 2.3%

Shares of RBLX traded up $1.31 during trading hours on Friday, reaching $57.61. The stock had a trading volume of 1,107,572 shares, compared to its average volume of 12,592,908. The firm has a 50-day simple moving average of $70.34 and a 200 day simple moving average of $98.10. Roblox Corporation has a 12 month low of $50.10 and a 12 month high of $150.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $38.12 billion, a price-to-earnings ratio of -37.23 and a beta of 1.62.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the business posted ($0.33) EPS. Roblox’s quarterly revenue was up 122.6% on a year-over-year basis. Equities research analysts predict that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Roblox Company Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.